Reinsurance Group of America, Incorporated - RGA STOCK NEWS

PACT Capital Partners has launched as an independent GP stakes investment firm, focusing on providing capital and strategic support to middle-market alternative asset managers. The firm is co-founded by Christian von Schimmelmann, former Global Co-Head of GP Stakes at Goldman Sachs, and Brian Vickery, former McKinsey Partner.

The firm secured significant strategic anchor investments from Reinsurance Group of America (RGA) and Sackville Capital. PACT will utilize its proprietary imPACT platform to assist firms in capital formation, product launches, operations improvement, talent management, and technology implementation.

During his tenure at Goldman Sachs' Petershill, von Schimmelmann helped raise over $10 billion across several GP stakes funds and completed over 30 investments in private market firms. The leadership team also includes Jonathan Snider as CFO and CCO, previously CFO of GTIS Partners.

Reinsurance Group of America (NYSE:RGA) has scheduled its fourth quarter earnings release for Thursday, February 6, at approximately 4:15 p.m. Eastern Time. The company will host a conference call to discuss the results on Friday, February 7, at 10 a.m. Eastern Time.

RGA, founded in 1973, is a global leader in life and health reinsurance and financial solutions, with approximately $4.0 trillion of life reinsurance in force and assets of $120.3 billion as of September 30, 2024. The company focuses on helping clients manage risk and optimize capital, with a mission to make financial protection accessible to all.

Reinsurance Group of America (RGA) has announced a US$4.1 billion coinsurance transaction with John Hancock, a Manulife subsidiary. The deal comprises $1.9 billion in long-term care (LTC) and $2.2 billion in structured settlements. RGA will coinsure a 75% quota share of both blocks, with John Hancock retaining 25%. The LTC policies match RGA's current portfolio characteristics, all issued post-2007. The transaction, funded with internal capital, is expected to close in early 2025 and become earnings accretive by 2025. RGA will continue supporting John Hancock's US permanent life business through yearly renewable term reinsurance at market terms.

Manulife has announced a $5.4 billion reinsurance agreement with RGA, including $2.4 billion of long-term care (LTC) reserves. The transaction will reduce LTC reserves by 6% and morbidity sensitivity by 7%. Combined with a previous transaction, this will result in an 18% cumulative reduction in LTC reserves. The deal, priced at close to 1.0x book value, is expected to release $0.8 billion of capital which will be returned to shareholders through buybacks. The transaction includes a 75% quota share on both ceded blocks and is expected to close in early 2025. It will result in an annual reduction of $70 million in core earnings and $50 million in net income.

Reinsurance Group of America (NYSE: RGA) has launched Aspire, a licensed third-party administrator in the UAE. Developed with CarePay, the platform aims to transform health insurance portfolio management through real-time data exchange and GDPR-compliant security standards. The solution offers enhanced efficiency in claims processes and improved sustainability for insurance companies. Aspire is available through a white-labelled digital platform or licensed third-party administrator services, facilitating optimized medical insurance administration and healthcare stakeholder connectivity.

AllianceBernstein (AB) announced its expansion in the insurance business through a partnership with Reinsurance Group of America (RGA). AB has been selected as one of the lead investors in Ruby Reinsurance Company (Ruby Re), a reinsurance sidecar vehicle sponsored by RGA focusing on the U.S. asset-intensive market. As part of the transaction, AB will manage private alternative assets for RGA's general account and appoint a member to Ruby Re's Board of Directors. This partnership marks a significant milestone in AB's goal of leadership within insurance asset management and participation in the growing asset-intensive reinsurance market.

RGA's Ruby Reinsurance Company (Ruby Re) has successfully completed its second funding round, reaching $480 million in total capital raised, approaching the upper limit of its $400-500 million target range. The second round attracted investments from AllianceBernstein L.P. (AB), EnTrust Global, and Enstar Group, complementing initial investments from Golub Capital, Hudson Structured Capital Management , and Sammons Financial Group. AB will appoint a member to Ruby Re's Board of Directors. This funding positions Ruby Re to expand its asset-intensive reinsurance capabilities and capacity.

Reinsurance Group of America (RGA) reported strong Q3 2024 results with net income of $156 million ($2.33 per diluted share), compared to $287 million ($4.29 per diluted share) in Q3 2023. Adjusted operating income reached $242 million ($3.62 per diluted share), while adjusted operating income excluding notable items hit a record $410 million ($6.13 per diluted share). The company deployed $382 million into in-force block transactions and increased Value of In-force Business Margins by $4.6 billion (13.9%) in the first nine months. Consolidated net premiums totaled $4.4 billion, up 3.2% year-over-year, with investment income increasing 14.4% due to higher rates and transaction volumes.

The International Insurance Society (IIS) has announced the finalists for the 2024 RGA Leaders of Tomorrow award, recognizing exceptional leadership potential in the insurance industry. The three finalists are:

• Annie Nhat Anh Tran (MSIG Asia): Exploring courageous leadership in emerging markets
• Beth Carter (Protective Life Insurance): Highlighting benefits of improving financial literacy
• Kyeonghwa Kim (RGA): Examining innovation opportunities for the protection gap in aging societies

The finalists will participate in a panel session at the IIS Global Insurance Forum on Nov. 18 in Miami, where the winner will be announced. This marks the 10-year anniversary of the RGA-sponsored mentorship program, which has nurtured 86 participants from 17 countries since its inception.